Shares move up on trade hopes and sentiment

Stocks bounced back Wednesday as the latest developments in trade negotiations between Washington and Beijing eased concerns among institutional investors, analysts said. The Korean currency appreciated against the dollar.

“Investor sentiment has been easily swayed by the latest developments in trade tensions between United States and China, with a lack of clear momentum in either direction,” Jeong Dai, an analyst at Meritz Securities, said. “Institutions seem to have bought undervalued stocks from the recent decline.”

Institutional investors bought a net 445.8 billion won worth of stocks. Foreign investors sold a net 173.8 billion won worth of shares, and individuals sold a net 274 billion won of stocks.